EV manufacturer Ola Electric has invested in Israeli battery technology company StoreDot, a pioneer of Extremely Fast Charging (XFC) batteries. The investment in StoreDot is the first of several global strategic investments planned by Ola Electric as it seeks to leverage its core R&D in advanced cell chemistry and manufacturing, as well as other battery…
Ola Electric, a manufacturer of EVs in India, announced it has appointed Dr. Prabhakar Patil, former Chief Executive Officer of LG Chem Power, to its Board of Directors. Welcoming Dr Patil onto the Board of Ola Electric Mobility, Bhavish Aggarwal, Founder and CEO, Ola, said, “We are investing deeply in core R&D to create indigenous…
Ola Electric, India’s EV manufacturer, has announced that it has raised over US$200 million led by Falcon Edge, Softbank and others, at a valuation of US$3 billion. A statement said, “Ola will accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. The announcement will further strengthen Ola’s “Mission…
Ola Electric and Bank of Baroda have signed a long-term debt financing agreement in Indian EV industry. This 10-year debt of US$100 million is towards the funding and financial closure of the Phase 1 of the Ola Futurefactory, Ola’s global manufacturing hub for its electric two-wheelers. Ola had earlier announced last December that it will…
Ola Electric has hired N Balachandar as Chief Human Resources Officer. In his new role, Balachandar will accelerate Ola Electric’s journey to become a world-class talent organisation, with a focus on people and culture globally. Balachandar (or Bala) is a 33-year industry HR veteran, and brings global experience to the company, having worked across India,…
Ola Electric has announced the appointment of Wayne Burgess, as Head of Vehicle Design for its entire product range including scooters, bikes, cars and more. Wayne brings international automotive design experience, having worked on Bentley Arnage in 1998, Aston Martin’s DB9 in the mid 2000s and more recently, the Jaguar XF, F-Type, F-Pace SUV, XE.…
Ola Electric has announced the appointment of Yongsung Kim as Head of Global Sales & Distribution, overseeing India and international markets. A 35-year veteran with Hyundai Motor and Kia, Yongsung brings global automotive sales experience from around the world, including North America, Europe, UK, Middle East, Africa, ASEAN, Asia Pacific and of course India where…
Mobility platform Ola announced it has signed the MoU with the Tamil Nadu government for an investment of 2,400 crores in setting up its first factory in the state. Upon completion, the factory will create almost 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of…
Ola announced it has appointed GM veteran Jose Pinheiro as its Head of Global Manufacturing and Operations for its Electric Business. In this new role, Jose will spearhead Ola’s ambitions to build world class manufacturing facilities starting with the world’s largest scooter factory, and then expanding to multiple such facilities across India. These facilities will…